Dynamic Technology Lab Private Ltd Acquires 285 Shares of The Cigna Group (NYSE:CI)

Dynamic Technology Lab Private Ltd increased its holdings in shares of The Cigna Group (NYSE:CI) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,338 shares of the health services provider’s stock after acquiring an additional 285 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in The Cigna Group were worth $1,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CI. Checchi Capital Advisers LLC raised its stake in The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after acquiring an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares in the last quarter. IFG Advisors LLC lifted its holdings in The Cigna Group by 4.6% during the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in The Cigna Group by 4.7% in the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after buying an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after buying an additional 32 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock opened at $332.73 on Tuesday. The company has a market cap of $92.55 billion, a PE ratio of 31.39, a PEG ratio of 0.99 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company’s 50-day moving average is $334.74 and its two-hundred day moving average is $338.63.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the firm earned $6.77 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $394.64.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.